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Case Study

Fieldfisher advises Liberum, Tamesis and Cormark Securities on $40 million fundraising for Shanta Gold


United Kingdom

Fieldfisher's Band 1-ranked equity capital markets team has advised on the first secondary fundraising this year for the mining sector on AIM, having also acted on the first admission to AIM of a mining company this year (Gemfields). Fieldfisher has advised Liberum Capital Limited, Tamesis Partners LLP and Cormark Securities Inc. as joint bookrunners on a $40 million fundraising for AIM-quoted Shanta Gold Limited.

Shanta Gold is an East Africa-focused gold producer, developer and explorer with projects in Tanzania and Kenya.

The fundraising comprised of a placing to institutional investors in the UK, US and Canada, direct subscriptions and a retail offer via PrimaryBid.

The team advising the bookrunners was led by Fieldfisher corporate partner Ed Westhead, supported by associate Maddie Hibbard. Proskauer Rose advised the Joint Bookrunners on US law.

Commenting on the fundraising, Ed Westhead said:

"We are delighted to have supported the Joint Bookrunners on what is the first secondary fundraising in the mining sector on AIM this year. Congratulations to Shanta Gold, Liberum, Tamesis and Cormark on what was a heavily over-subscribed fundraising."

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